Skip to main content
S 2349 117th Congress Senate

Protecting Consumers from Unreasonable Credit Rates Act of 2021

Official title: A bill to amend the Truth in Lending Act to establish a national usury rate for consumer credit transactions.

Introduced: July 14, 2021 Introduced by: Durbin, Richard J. Democratic · Illinois See on congress.gov
Finance and Financial Sector
Sign in to write a letter Sign in to watch
This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 14, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S4903-4904)
Jul 14, 2021
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action July 14, 2021

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S4903-4904)

 Plain-English summary Congressional Research Service

Protecting Consumers from Unreasonable Credit Rates Act of 2021

This bill prohibits a creditor from extending credit to a consumer under an open end consumer credit plan (i.e., credit card) for which the fee and interest rate exceeds 36%.

The bill also sets forth criminal penalties for violations and empowers state Attorneys General to enforce the bill.

Credit card billing statements must include the fee and interest rate, displayed as FAIR, instead of the total finance charge expressed as an annual percentage rate (APR).

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Blumenthal, Richard
Connecticut · Jul 14, 2021
 D
Merkley, Jeff
Oregon · Jul 14, 2021
 D
Whitehouse, Sheldon
Rhode Island · Jul 14, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2349: Protecting Consumers from Unreasonable Credit Rates Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-S-2349/
MLA
"S. 2349: Protecting Consumers from Unreasonable Credit Rates Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-2349/.
Bluebook (legal)
S. 2349, 117th Cong. (2026), https://openamerica.io/bill/117-S-2349/.
Markdown link
[S. 2349: Protecting Consumers from Unreasonable Credit Rates Act of 2021](https://openamerica.io/bill/117-S-2349/)
Report a problem